In a recent post by The Fiscal Times, Steve Yoder sheds light on what could be an alarming movement for those of us in the business of locating rental homes—US cities and municipalities are beginning to limit or perhaps institute bans on rental properties within their limits. While there is no data to suggest a widespread adoption of such policies, the post makes mention of laws passed across the nation in both Madison, Mississippi and in West St. Paul, Minneapolis.
Although a trend does not yet exist, it is suggested that this type of legislation is favored by lawmakers in areas already depressed by foreclosure. These cities argue that neighborhoods mainly occupied by renters will further deplete home values due to lack of home upkeep and community involvement. Those opposing the laws, including homeowners unable to sell and individuals at risk of losing a home, offer the rebuttal that preventing renters from leasing will likely perpetuate the problem by increasing the number of unoccupied homes.
Should restrictions on an already diminishing supply of rentals become common nationwide, Destination Service providers may be facing extreme challenges in locating viable housing options for transferees.
Thoughts?
